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News Link • Federal Reserve

Fed Rejects Geithner Request for Study of Governance, Structure

• Bloomberg
(Comment...mine lol I remember the Brad Blog claiming BO was afraid of the Fed and I remember BO telling the bankers the only thing standing between them and the public with pitchforks was him so not only does he seem not to be too afraid he is all for them having MORE power.)

Fed Governor Daniel Tarullo, an Obama appointee, is working on changes to the supervisory process that are preparing the central bank for a larger role in tracking risks across the financial system.

Tarullo is focusing on bank-to-bank comparisons and quantitative scenario testing of bank portfolios. The Fed is currently examining the vulnerability of banks with assets under $100 billion to falling commercial real estate values.

Congressional leaders have balked at the notion of giving the Fed more power and are leaning toward vesting authority over capital, liquidity and risk-management practices of big banks in a council of regulators.

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